Home Depot, Target: Tomorrow's Headliners

NEW YORK (TheStreet) -- Home Depot (HD Quote) and Target (TGT Quote) will be in the spotlight Tuesday as both U.S. retailers are on tap to report quarterly earnings results.

Home Depot will report third-quarter earnings before the start of trading Tuesday, with analysts looking for a profit of 36 cents a share on sales of $16.27 billion, according to a poll by Thomson Reuters. On Monday, rival Lowe's (LOW Quote) matched analysts' forecasts with its third-quarter report and guidance for the fourth quarter.

Target, meanwhile, should report a profit of 50 cents a share on sales of $15.25 billion, according to Thomson Reuters. Target's report comes days after rival Wal-Mart (WMT Quote) beat consensus targets for earnings on a per-share basis and also raised its guidance for 2010, also weaker-than-expected sales for the third quarter disappointed Wall Street.

Several other retailers will be out with quarterly results Tuesday, including Saks (SKS Quote), TJX (TJX Quote) and La-Z-Boy (LZB Quote).

In addition, Covidien (COV Quote), Melco Crown Entertainment (MPEL Quote), Autodesk (ADSK Quote) and Salesforce.com (CRM Quote) are all due to report earnings Tuesday.

Turning to the day's economic data, investors will be treated to several reports before the trading day begins. At 8:30 a.m. EST, the Commerce Department will release the producer price index for October, with economists expecting the headline number to rise 0.5% after a 0.6% slide in September. The core number, which excludes food and energy, should tick 0.1% higher after an equal decline in September.

At 9 a.m. EST, the September report on net long-term TIC flows, which measures capital flows out of the U.S., should increase to $35 billion from $28.6 billion in August. Fifteen minutes later, the Federal Reserve will post industrial production and capacity utilization figures for October, which should come in at 0.4% and 70.8%, respectively.